Competitively priced Schedule FA — reporting foreign assets in an Indian return

India's foreign-asset disclosure has no minimum value. Competitively priced Schedule FA with a fixed fee agreed in writing before any work starts. Call the 24-hour helpline on +1 (416) 619-0068, or request a written quote today.

  • 15+Years of cross-border experience
  • 18,000+Clients served
  • 5.0Google rating
  • 4Global offices — India, USA, Canada & UAE

Secure a fixed quote

Whatever documents you hold are enough to begin: we read them and put a fixed price in writing first.

24-hour helpline: +1 (416) 619-0068
  • Offices in India, the USA, Canada and the UAE
  • 18,000+ clients served
  • Google rating 5.0 out of 5
The short answer

India's foreign-asset disclosure has no minimum value. Disclosure sits in a dedicated schedule of the return and is tested against information India receives automatically from foreign institutions.

Who this applies to

  • Your Indian accounts still carry your old residency status
  • You are an NRI with Indian property, deposits or investments
  • Tax was deducted at source in India before the money reached you
  • You are returning to India after years abroad
  • You hold foreign assets and are, or will be, an Indian resident

If any of that is familiar, keep reading. If none of it is, the shortest route is to describe your own situation and let us name the right page for it.

The team at work in the open-plan office

What schedule fa — reporting foreign assets in an Indian return costs here

Schedule FA is priced by the number of foreign accounts, holdings and signing authorities to be disclosed and the number of years being brought current, since the schedule is completed asset by asset with each one's opening, peak and closing position converted for the Indian year.

NRI Indian return (ITR-2) — fixed-fee price

From $349

fixed, quoted before work starts

The Indian return on India's own year, reconciled against the department's information statement, with treaty relief and the deduction-at-source credits properly claimed.
See the full fee page

T1135 foreign property filing — fixed-fee price

From $349

fixed, quoted before work starts

The Canadian foreign property statement built on cost amount, in Canadian dollars, across everything the test reaches — including holdings people assume are excluded.
See the full fee page

Individual tax filing

From $349

fixed, quoted before work starts

Returns for people whose tax position did not stay in one country, including the years residence itself is in question.
See the fee schedule

Foreign asset & information reporting

From $349

fixed, quoted before work starts

The reporting obligations that attach to owning something abroad, worked out from your holdings rather than from the tax return alone.
See the fee schedule

Non-resident & departure filings

From $349

fixed, quoted before work starts

For anyone taxed by a country they do not live in — rent, pensions and investment income reaching across a border after the move.
See the fee schedule

Catch-up & voluntary disclosure

From $349

fixed, quoted before work starts

Missed years brought current under the disclosure programme that fits, with the penalty position worked out before anything is filed.
See the fee schedule

Estate & trust filing

From $799

fixed, quoted before work starts

For an estate holding property in more than one country, or a trust with beneficiaries who are taxed somewhere else.
See the fee schedule

Corporate cross-border filing

From $999

fixed, quoted before work starts

The corporate return and its cross-border schedules as one engagement, so the group files a consistent position everywhere.
See the fee schedule

All published fees on one page — the complete list of what each engagement costs, stated as figures rather than ranges.

The mechanism, in plain terms

India's foreign-asset disclosure has no minimum value. One overseas account, one foreign share, one signing authority over someone else's account — all of it is disclosable.

Disclosure sits in a dedicated schedule of the return and is tested against information India receives automatically from foreign institutions. Non-disclosure is dealt with under a separate statute with its own assessment powers.

That mechanism has a practical edge to it: it rewards preparation and punishes discovery. A filer who maps the obligation before the year ends is choosing between options; a filer who finds it afterwards is usually choosing between remedies.

Thresholds and rates move, and summaries written for last year are not evidence about this one. So each figure in your file is sourced to the issuing authority for the specific year; anything we cannot source, we describe as a mechanism and leave unquantified until it can be confirmed. See also fdi routes, fc-gpr and fc-trs compliance and black money act disclosures (India).

What we actually file

  • Responses to scrutiny and reassessment notices
  • The Indian return on India's own year, reconciled to the department's information statement
  • Lower-deduction certificate applications before the transaction
  • Remitter declarations and accountant certificates for repatriation
  • The Canadian or US return that reports the same income

Worked through with figures

Worked through with figures, the mechanism looks like this.

Deduction on the price against tax on the gain

An NRI sells Indian property for ₹32,800,000 with an indexed cost of ₹13,448,000. Assume the buyer must deduct at 13% of the consideration, and assume tax on the gain at 12%.

Deduction on the price against tax on the gain
ItemAmount
Sale consideration₹32,800,000
Cost taken into account₹13,448,000
Gain actually arising₹19,352,000
Deduction on the consideration (assumed 13%)₹4,264,000
Tax on the gain (assumed 12%)₹2,322,240
Cash held back beyond the real tax₹1,941,760

₹1,941,760 more is deducted than the transaction actually owes. A lower-deduction certificate obtained before closing is what releases it at the table; without one it sits with the department until a return recovers it. We run this on your actual numbers before advising anything, because the conclusion can invert with a modest change in inputs.

Treat these numbers as a worked example rather than advice — they exist to make the mechanics visible, and the rates and thresholds are assumed for the illustration. For a real filing, we verify each figure with the authority that publishes it, for your year.

From first call to filed

  1. 1A call to our 24-hour helpline to establish the facts and the dates that matter
  2. 2A written scope and a fixed fee before any work starts
  3. 3Preparation, then a named reviewer's sign-off before anything is filed
  4. 4Filing, then payment — after you have seen and approved the result

The fixed fee

You get a number before you commit, not an estimate that drifts. The scope is written down, the fee is fixed against it, and if the scope changes we re-quote rather than invoice the difference. Comparable engagements and their fixed fees are set out on the pricing pages.

  • A change of scope is re-quoted before the work, never added to the invoice after it.
  • We will tell you when you do not need us, and that call is free.
  • Every statutory figure in your file is verified for your own year at source.

Where to go from here

If a letter prompted this, bring the letter — it usually contains the answer to half the questions. Start with the dates. Arrival, departure, transaction, notice — whichever applies. Once those are fixed, the filing set and the fee follow quickly, and you will know both before committing to anything.

Checked and signed off for the 2025 and 2026 filing seasons by Udit Gupta, Cross-Border Tax Expert, Legal Quotient Consultants. Published as general information. For a position on your own file, call the 24-hour helpline.

Reporting of foreign assets — what this page covers

This is the page to read on reporting of foreign assets. It takes Schedule FA in order — the test that decides who is affected, the returns and forms that follow from it, and a fee quoted in writing before anything starts.

People also search for: foreign account reporting · reporting foreign assets · foreign tax credit in india · tax statement 2024.

India's foreign-asset disclosure has no minimum value.

From first contact to filed return

  1. Send what you already have

    Slips, statements, prior returns — in any order. We list what is still needed after reading them.

  2. A fee agreed in writing

    Quoted from those documents, before the work starts, and it does not move once you accept it.

  3. Each side drafted against the other

    The returns are built together rather than in sequence, so relief is claimed once and in the right country.

  4. You approve before it is filed

    The finished return comes to you first. Nothing is submitted on your behalf unseen.

What you are actually buying with schedule fa — reporting foreign assets in an Indian return

Factor Legal Quotient Hourly billing model
Pricing A fixed fee, agreed in writing before work starts Hourly, billed as incurred
Experience 15+ years of cross-border work, 18,000+ clients Varies by file
Both sides of the border Prepared together by one team, so relief is claimed exactly once One country at a time, reconciled later
Who reviews it A named practitioner, published on the page Whoever the queue reaches
Where the work happens Our offices in India, the USA, Canada and the UAE Whichever single office you can travel to

Key terms behind this page, defined

T1134
Canada's information return for foreign affiliates, with financial and ownership detail on each one. It reaches individuals, not only corporate groups.
Foreign grantor trust
A non-US trust with a US settlor treated as grantor, bringing US information reporting and taxation of the trust's income to that settlor.
Benchmarking study
A search for comparable companies or transactions producing a range against which a tested party's result is measured. Its rejection log is what an auditor challenges.
Tie-breaker rules
The ordered treaty tests that resolve dual residence. The first test that resolves the case is where the evidence should be concentrated.
schedule fa — reporting foreign assets in an Indian return: How we read this one

Disclosure sits in a dedicated schedule of the return and is tested against information India receives automatically from foreign institutions.

The engagement terms hold no matter what the analysis finds — fee and scope agreed in writing up front, a named reviewer on the output, your approval before the finished work is filed.

Fixed fees around schedule fa — reporting foreign assets in an Indian return

Where earlier years were filed without the schedule, the work changes: the returns have to be revisited, and the position India already holds from foreign institutions has to be matched before anything is refiled. Whether it is a first disclosure or a correction is the question that moves the fee.

NRI Indian return (ITR-2)

$349fixed, before work starts

Covers: The Indian return on India's own year, reconciled against the department's information statement, with treaty relief and the deduction-at-source credits properly claimed.

What makes it bigger: Property and capital gains together. Rent with deduction at source is routine; a property sale in the same year brings computation, indexation and often a certificate application.

See this fee page

India–Canada dual filing (ITR + T1) — India desk price

$349fixed, before work starts

Covers: Both returns as one engagement across two mismatched fiscal years, with the Indian deduction at source reconciled and the Canadian credit claimed where it is usable.

What makes it bigger: The fiscal-year mismatch multiplied by income streams. Each stream has to be mapped from India's year onto Canada's before the credit can be computed.

See this fee page

The difference a dedicated cross-border team makes

Cross-border is the whole practice

International and cross-border tax is all we do — not a sideline next to domestic work. The edge cases on this page are our ordinary Tuesday.

The fee is fixed before we start

Quoted from your documents and agreed in writing. The number you accept is the number you pay.

One team, not two firms billing separately

You are not the go-between for two sets of advisers with two sets of assumptions. One engagement covers each country the file touches.

Late and missed years are ordinary work

An unfiled history is not a reason to wait longer. We assess what is still open and what relief the delay attracts before the first return goes in.

Two of the firm’s advisers and the team in the open-plan office

Schedule fa — reporting foreign assets in an Indian return — the four phases

Step 1

The opening call

A first call to map the obligations across every country involved

Step 2

Scope in writing

A single fixed fee covering the whole set, agreed before we begin

Step 3

Prepared and checked

Preparation in the order that makes the relief usable, with a reviewer's sign-off

Step 4

Filed, then supported

You approve the finished work, and we file it

Two of the firm’s advisers at the glass desk in the Delhi office

From first document to filed return

  • Step 1: Share your documents – A secure upload link arrives after the first call — send files in any state.
  • Step 2: A written fixed fee – The quote is fixed from what you send; it does not move once accepted.
  • Step 3: Preparation, both sides at once – The returns are drafted together, reconciled line against line.
  • Step 4: Approve, then file – Nothing is filed until you have seen it and approved it.

Quoted up front, in writing.

Contact Us 24-hour helpline +1 (416) 619-0068

More of the same work, from other angles

Browse sideways: the pages below answer the neighbouring questions.

The work we do for clients like this

Form 3CEB — TP accountant's report (India) Form 3ceb India — the guide, the FAQ and the fixed fee.
Family business succession across borders The full guide to family business succession across borders, with the fee fixed before any work starts.
India ↔ United Kingdom — DTAA Its own page: India ↔ United Kingdom — DTAA — mechanism, deadlines and published fees.
IP holding & substance Everything on ip holding & substance, at the same depth as this page.
Form T2036 — provincial foreign tax credit T2036 provincial foreign tax credit — the guide, the FAQ and the fixed fee.
Second opinion on an existing structure The full guide to second opinion on an existing structure, with the fee fixed before any work starts.
Form 8840 — closer connection (snowbirds) Its own page: form 8840 closer connection — mechanism, deadlines and published fees.
Section 85 — rollover on incorporation Everything on section 85 rollover on incorporation, at the same depth as this page.
Foreign-owned US company — filings Foreign-owned US company filings — the guide, the FAQ and the fixed fee.

Who we bring this work to

Tax for crypto traders Crypto traders tax — the guide, the FAQ and the fixed fee.
Non-resident landlords — what we charge The full guide to non-resident landlords what we charge, with the fee fixed before any work starts.
Franchise owners — your filing calendar Its own page: franchise owners your filing calendar — mechanism, deadlines and published fees.
IT contractors — your filing calendar Everything on it contractors your filing calendar, at the same depth as this page.
Touring musicians — relief you're probably missing Touring musicians relief you're probably missing — the guide, the FAQ and the fixed fee.
Tax for short-term rental hosts The full guide to short-term rental hosts tax, with the fee fixed before any work starts.
Law firms cross-border tax Its own page: law firms cross border tax — mechanism, deadlines and published fees.
Twitch & live streamers — relief you're probably missing Everything on twitch & live streamers relief you're probably missing, at the same depth as this page.
Seafarers & mariners — what we charge Seafarers & mariners what we charge — the guide, the FAQ and the fixed fee.

Where our clients live and work

Indonesia tax for expats — country guide Indonesia tax for expats — the guide, the FAQ and the fixed fee.
Canada–Singapore tax corridor The full guide to Canada Singapore tax, with the fee fixed before any work starts.
India–Australia tax corridor Its own page: India Australia tax — mechanism, deadlines and published fees.
Barbados tax for expats — country guide Everything on Barbados tax for expats, at the same depth as this page.
Sweden tax for expats — country guide Sweden tax for expats — the guide, the FAQ and the fixed fee.
New Zealand tax for expats — country guide The full guide to New Zealand tax for expats, with the fee fixed before any work starts.
Canada–Hong Kong tax corridor Its own page: Canada Hong Kong tax — mechanism, deadlines and published fees.
Uruguay tax for expats — country guide Everything on uruguay tax for expats, at the same depth as this page.
United Kingdom tax for expats — country guide United Kingdom tax for expats — the guide, the FAQ and the fixed fee.

The people on your file

Five named practitioners, each with the part of a cross-border file they carry. Every page on this site says who reviewed it, and the reviewer is one of these people rather than an unnamed team.

Udit Gupta

Udit Gupta

Cross-Border Tax Expert

CA (ICAI), In-Depth Tax Trained

Reviews and signs off the practice's cross-border positions, and carries final responsibility for the treaty analysis on every file that leaves the office.

Abhinav Gupta

Abhinav Gupta

Canada Tax / International Tax

Canada Tax, International Tax, Cross-Border Tax, Transfer Pricing

Canadian returns with foreign income, non-resident filings, and the transfer-pricing documentation that runs alongside intercompany work.

Raghav Gupta

Raghav Gupta

International Tax

International Tax, Transfer Pricing Specialist

Benchmarking, method selection and the local-file and master-file sets that support a group's pricing policy under examination.

Anmol Mittal

Anmol Mittal

Canada and US tax

CPA Canada, CPA USA, CA (ICAI)

Files that have to be right on both sides of the border at once — dual filings, streamlined catch-ups, and the foreign tax credit reconciliation between them.

Vinayak Indolia

Vinayak Indolia

CFO advisory

CPA, CA. Fractional CFO and Senior Advisory Specialist

Groups that need the tax position and the finance function to agree: structure reviews, intercompany policy, and the reporting a board can act on.

Meet the whole team

Cross-border tax case studies

Case study 1

Gains on Indian Shares Held From Abroad

Holding period and instrument decide the character of the gain, and the deduction at source applies before any of that is considered. The return is where the position is corrected.

Read how this one runs
Case study 2

A Foreign Property Form Filed Late, With Penalties Running Daily

The foreign asset return carries a penalty that accrues per day rather than per return, so the exposure grows quietly. Relief is discretionary and it is granted on the reasons given, which means the request is the work rather than the form.

Read how this one runs
Case study 3

An Estate Using Its Graduated Rates in Time

The favourable rate treatment an estate can access is time-limited and conditional, and it is lost by administration rather than by decision. The file identifies the window and the filings that keep it open.

Read how this one runs
Case study 4

Tax Deducted When Buying From an NRI

Withholding on a sale by a non-resident is applied to the sale value rather than to the gain, so it routinely exceeds the tax due. A lower-deduction certificate obtained before completion avoids locking the difference up.

Read how this one runs
Case study 5

A TFSA That Costs More Than It Saves

Canadian tax-free accounts are not tax-free to a US person, and some of them carry a reporting form of their own. The file is a review of what is held, what each account triggers on the US side, and whether the account is worth keeping once the reporting is priced in.

Read how this one runs
Case study 6

An Indian Company Paying a Foreign Supplier

Payments abroad carry deduction at source and a certification filed before the money moves. Whether the treaty reduces the rate depends on what is being bought, and the classification is the decision the whole filing rests on.

Read how this one runs
Case study 7

A Company Abroad Owned by a US Person

A business incorporated where the owner lives is a foreign corporation to the IRS, with a reporting package of its own and schedules that need local accounts restated. Classification comes first, because it decides what is reportable and when profits are taxed.

Read how this one runs
Case study 8

A Canadian Employer With Staff in the United States

Employing someone in the US creates federal and state obligations that begin with registration, not with the first return. Which states are engaged is decided by where the work happens rather than where the company is.

Read how this one runs

All case studies — every published engagement in one place.

Core International & Cross-Border Tax Services

International Tax Planning & Advisory

Strategy and compliance for income, assets and families spread across borders.

One coordinating team: filings on every side of the border are sequenced so treaty relief and foreign tax credits are claimed once — and in the right country.

U.S. & Cross-Border Tax Returns

Dual filers: U.S. citizens in Canada and Canadians with U.S. income run two parallel systems — we prepare both, in the right order, every year.

Expat & Emigration Tax

The move year is its own project: the elections and valuations filed that year decide the next decade of both countries’ returns.

Non-Resident Canadian Tax

Default withholding is 25% of gross: elective returns routinely turn over-withheld rent and pensions into refunds.

Transfer Pricing & BEPS

Documentation prepared with the return is the cheapest insurance in international tax; reconstructing it during an audit is the most expensive.

Cross-Border Estates & Trusts

Wills drafted for one country routinely misfire in the other — deemed disposition here, estate tax there, credits in between.

Cross-Border Corporate Tax

Expansion raises the same four questions every time — entity, PE, repatriation, payroll. We answer them before the tax authorities do.

India Tax for NRIs & Returning Residents

The deduction is taken on the sale price, not the gain — which is why an NRI property sale strands cash unless the certificate is applied for before closing.

Canadian Tax with a Foreign Element

Residency is decided on facts, not on a form — and the year you arrive or leave is the one where the largest amounts turn on the smallest details.

UAE Tax for Expats & Their Home Country

A zero-tax country is only half the answer — the question that decides the bill is whether the country you came from still treats you as resident.

Industries & Client Types We Serve Worldwide

Global E-commerce & Marketplaces
Technology & SaaS
Professional Services Firms
Cross-Border Real Estate
Importers, Exporters & Manufacturers
Athletes, Artists & Entertainers
Remote Workers & Digital Nomads
Investment Funds & Holding Companies

Global E-commerce & Marketplaces

Cross-border tax for sellers shipping worldwide: marketplace withholding, foreign registrations and inventory nexus handled before they become audits.

Marketplaces withhold, remit and report in their own right, so the tax position of a single sale is decided by where the stock sat, where the buyer was and which platform collected — not by where the company is registered. We reconcile the platform's own filings against the returns before either is submitted.

  • Foreign VAT / GST / sales tax registrations
  • Marketplace withholding reviews
  • Inventory nexus & PE analysis
  • Multi-currency books reconciled
Explore E-commerce & Marketplaces

Technology & SaaS

  • Cross-border revenue sourcing & withholding
  • IP structuring with real substance
  • Equity for cross-border teams
  • U.S. expansion: entity & PE setup
Explore Technology & SaaS

Importers, Exporters & Manufacturers

  • Transfer pricing documentation (s.247)
  • Customs value vs transfer price
  • Foreign affiliate reporting (T1134)
  • Country-by-country reporting
Explore Trade & Manufacturing

Athletes, Artists & Entertainers

  • Reg 105 & U.S. CWA agreements
  • Multi-state & country calendars
  • Touring income allocation
  • Royalty & image-rights withholding
Explore Athletes & Entertainers

Remote Workers & Digital Nomads

  • Residency analysis before moving
  • Employer payroll exposure
  • Totalization & social security
  • Foreign tax credits
Explore Remote Workers

Investment Funds & Holding Companies

  • Treaty access & PPT reviews
  • FAPI & surplus computations
  • Withholding-efficient routing
  • Governance & substance
Explore Funds & Holdcos

Schedule FA — reporting foreign assets in an Indian return — questions we are asked

Schedule FA — reporting foreign assets in an Indian return: how much of this can I do myself?

Some of it, yes — and we will say so on the call if that is the honest answer. The parts that are worth paying for are the ones where a missed election, a missed deadline or an unverified threshold costs more than the fee: disclosure sits in a dedicated schedule of the return and is tested against information India receives automatically from foreign institutions.

What if I have already filed and got it wrong?

That is a common starting point. We re-derive the position, identify whether an amendment or a disclosure route is the right vehicle, and tell you which one preserves the relief that is still available. The order matters more than the speed.

How long will it take?

It depends on the documents rather than on us. Once the pack is complete most filings turn around inside a fortnight; anything that needs a certificate from a tax authority runs on that authority's timetable, which we tell you at the start rather than at the end.

What happens if I have not filed for several years?

Missed years are handled as one package, not one at a time, because the route chosen for the first year determines the relief available for the rest. Each country has a disclosure or relief programme with its own conditions, and entering the right one — before the authority contacts you — is usually what keeps penalties down. Filing quietly outside a programme forfeits that protection. See catching up on missed returns.

How do I get a refund of TCS collected on a foreign remittance?

You claim it on your Indian return for that year. The collected amount is credited against your total tax, and if it exceeds the tax due the balance is refunded like any excess payment. Two practical conditions: the collector must have filed its statement so the credit appears in your annual tax statement, and your PAN must be correctly recorded on the remittance. A salaried remitter can also ask their employer to account for it against salary withholding. See LRS limits and TCS.

Is moving money between my own accounts in two countries taxable?

Moving your own capital between your own accounts is not itself income, so the transfer is not what creates tax. What can create tax or reporting is the income the money earned before it moved, a foreign-exchange gain on certain holdings, and the reporting obligations the balances themselves trigger — foreign account and asset reports keyed to balances rather than income. Remittances out of some countries also need certification before the bank will send them. See foreign account reporting.

Will you tell me what I could have done differently?

Yes, including where the window has closed. Knowing that a step was available last year is the reason next year is cheaper.

Do you use software I need to learn?

No. You send documents through the portal and receive the finished filings back; everything else happens on our side.

24-hour helpline: +1 (416) 619-0068

Let us take schedule fa — reporting foreign assets in an Indian return off your desk

Send us the facts. You will get a scope and a fixed fee in writing, and nothing starts until you agree to both.

  • Offices in India, the USA, Canada and the UAE
  • 24-hour helpline, +1 (416) 619-0068
  • Your existing accountant keeps the domestic file

Our practitioners are alumni of leading accounting and tax institutions

Where our partners studied — CPA Canada (In-Depth Tax Program), AICPA, the Institute of Chartered Accountants of India and the Malaysian Institute of Accountants.

Request a Quote +1 (416) 619-0068